Data / Crowdfunding / Texas / POWERHANDZ Inc
POWERHANDZ Inc: crowdfunding raise on Wefunder Portal LLC, $50,000 to $107,000 (2019)
POWERHANDZ Inc, a corporation in Dallas, TX, filed a Form C with the SEC on February 6, 2019 to raise $50,000 to $107,000 in preferred stock through Wefunder Portal LLC. The offering closed on April 1, 2019. In its most recent fiscal year it reported $264,975 in revenue and a net loss of $275,185, with 4 employees.
SpecStream is the live web data engine for teams and agents. It reads every Form C on SEC EDGAR each morning, and this page is that reading. Ask for your own cut (a portal, a state, a size, a revenue range) and new raises arrive in your sheet, CRM, Slack or agent as they land.
- Website
- www.POWERHANDZ.com
- Funding portal
- Wefunder Portal LLC
- Address
- 2633 Mckinney Ave Ste 130-255, Dallas, TX 75204
- Legal form
- Corporation
- Jurisdiction
- TX
- Incorporated
- November 21, 2013
- SEC CIK
- 0001744761
Offering terms
From the amendment filed February 6, 2019.
- Security
- Preferred Stock
- Price
- $0.44
- Target
- $50,000
- Maximum
- $107,000
- Deadline
- April 1, 2019
- Portal compensation
- 5.0% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.
Financials
From the Form C-AR filed June 25, 2020.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $264,975 | $362,000 | sec.gov |
| Cost of goods sold | $105,315 | $366,702 | sec.gov |
| Net income | $-275,185 | $-212,410 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $369,474 | $517,249 | sec.gov |
| Cash | $118,191 | $225,651 | sec.gov |
| Accounts receivable | $43,264 | $82,104 | sec.gov |
| Short-term debt | $107,000 | $387,080 | sec.gov |
| Long-term debt | $380,000 | $369,000 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| June 25, 2020 | Annual report | Not listed | Not listed | sec.gov | ||
| February 6, 2019 | Amendment | $50,000 | $107,000 | April 1, 2019 | Update deadline date; Add work history detail for Jeff Smith; Add detail to Use of funds; Fix pre-money valuation | sec.gov |
| August 7, 2018 | Offering | $50,000 | $107,000 | February 1, 2019 | sec.gov |
Updated June 25, 2020. Read from SEC EDGAR. Public domain (U.S. government work). Financials are as each company reported them in its Form C, unaudited unless the filing says otherwise. Websites are the ones the companies declared to the SEC. Free to reuse with credit to SpecStream under CC BY 4.0. Spot a wrong value? Write to [email protected] with the link to this page.